EFTA01366592.pdf

Amendment #4 Page 163 of 868 take..91.Cs!! um operations and largely relied on internally generated cash flows as well as corporate andfor project-level borrowings to satisfy capital expendittre requirements, As a normal pert of ois busress depending on market conditions we will from trne to trne consider opportunities to repay redeem, repurchase or refinance our rdebtedress Changes in our oedema plans, lower then ancipated etectncity sales. maeased expenses acquisncns or other everts may cause us to seek additional debt or eanty finanorg in future pencils. There can be no guarantee that Inanang will be avertable on acceptable terns a at all Debt financing, if available. card impose additcral cash payment obligations and addlonal covenants and operating restrictions Equty finanong I any, could result in the dilution of our exisbrg stodd-olders and make it more damn for is to maintain as chtderd policy. In addition any of the items discussed in detail under 'Fbsk factors' in this prospectus may also signficarety impact our tiquorry Liquidity position We believe that following the completon of ths offering we wit tem sufficient availability trader the Revolver. liquid assetsand cash flows from oparabons to meet our financial corn fitments debt service obligations. contireences arid entcipated required capital experditues for al least the next twelve mores As of March 31. 2015. December 31. 2014 and December 31, 2013, our liquidity was approximate/if 5213 4 neon. $236 0 million and $50 4 meat respectively, comprised d cash, cash canmttecl fa construction projects, and restricted cash We are subject to business and operational risks that could adversely effect our cash lbw A rretenal decrease in our cash flows world likely ooduoe a corresponcIng adverse effect on our borrowing capacity. Sources of aquIcilty Following the completion of Ins dieting, we expect cur ongoing sources of liquidly to include cash on hard. cash generated from operators, borrowings under new and existing fronting arrangements and the issuance of addeonai easy secunees, as appropriate gven market conditions We expect that these sources of funds will ce adequate to provide for our short-term and longterm liquidly needs air edify to meet our died service otegations and otter capital requrernents !eductive capest expencitures. as *et as wake ea:saviors depend on our titre operatng performance wnch, in turn, will be suoject to general economic. financial bus ness compettwe regulatoy and otter conditions marry d whch are beyond otr control As described in Note 5, Debt, to our cornbned financial statements and below, our framing arrangements as d March 31, 2015consist &Badge term loan, project-level term loans and oxishucton loans br ow venom solar energy projects BodgeFat/My On December 22, 2014, Global LLC entered into the Badge Facility with JPtAorgan Chase Bank N A, as adminstraWe agent As of December 31. 2014. the total peacoat amount outstancing under the Bridge Factity was S150 0 million. The Bridge F edify endures in December 2016 On May 6, 2015, the Badge Rameywas amended to increase the aggregate principal amount or bridge commitments to 5450 million, of which $87.5 million was stbsequertly prepaid with a portion of the proceeds from the Units Private Placements. through the additon d Barclays Bar* PLC Cobank. N A arid Morgan Stanley Senor Funding Inc as lenders in the Bridge Facility On Jule 5. 2015. the Bodge Facility was further amended to increase the aggregate p-ncipal annul of commemerts to S550 melon. through the addition of Goldman Sachs Bank ISA. Bank of America. N.A. and Deutsche Bank AG New York Branch as lenders The purpose of the Bodge Facility is to find the acqusdion of certain clean energy projects and to repay cedar of the project level rdebtedness incurred by projects needed in cur reel patio. Global LLC's obligations tinder the Bridge Facility are secured ty fret prionry 156 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058120 CONFIDENTIAL SDNY_GM_00204304 EFTA01366592